The Telecommunication Fund of Iceland and the submarine cable operator Farice have kicked off a new project. The two have signed an agreement to work on a new cable system between Iceland and the British Isles, tentatively called IRIS.
Farice currently operates FARICE-1 connecting Iceland to Scotland and the Faroe Islands, and DANICE which connects to Denmark. But simple diversity isn't enough these days, and so a third cable connection to Europe certainly makes some sense.
The given map for the new cable suggests a landing in western Ireland with connectivity to Aqua Comms' AEC-1 cable system. That would make a lot of sense, cutting down on the latency to the eastern coast of the US. However that landing station has not been set yet and could also be somewhere in the UK. On the Icelandic side, a landing site on the Reykjanes peninsula southwest of Reykjavik is anticipated.
First things first, and that's a survey of the seabed, which will take place this year.